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Tips for a Successful Tech Start-Up

Tips for a Successful Tech Start-Up
There are so many tech start-ups emerging, as digital technology moves on in leaps and bounds, with the Internet of Things on the horizon. Perhaps you are a good front-end developer who has access to a great team and with the right things in place, there’s no reason why you can’t compete in this huge market that is growing exponentially. Here are a few tips to help make it happen. Funding – Of course, you need to crunch the numbers and come up with a figure you need to turn your vision into reality and if you come up short, there are several ways that you can fund your start-up. You could crowdfund, as many digital entrepreneurs do successfully, or you could put together a presentation and invite potential investors. Another idea is to approach another developer with a view to setting up a partnership; your partner naturally comes up with 50% of the start-up funding, which eases the burden. If you have a good working relationship with your bank, they might be interested in checking out your business plan, while there are online lenders that specialise in start-up funding. Global market – Take advantage of the unique services at www.globalcitizenstranslation.com, the leading global translation provider with more than 500 language pairs to choose from. Having the ability to communicate with non-English speaking people is a real game-changer and it couldn’t be easier to use the on-demand service; simply book your translator and they will be ready to join your Zoom call at the agreed time. You can set up a business meeting with that Chinese client, without worrying about language issues and with more than 500 language pairs, you are not limited in any way. Web portal – This is very much your shop window and a chance to show some stunning code; invest in professional web design and create a brand that will become known for creativity and quality. You might want to think about digital marketing, with ongoing SEO to get your brand known. Here are a few key roles that your start-up needs. Tech recruitment – If you need to put together a team asap, you should create accounts with the best tech recruitment agencies. When the need arises, a quick search will find developers and code writers who are ready to go at the drop of a hat, so to speak. Time is of the essence when you have a client who wants your product and if you can’t meet their deadline, they will use another outfit. Where to base your company – As you know, delivering digital products means you can be based anywhere and some countries offer great incentives for foreign investors. If you are looking at Ireland as a potential venue for your start-up, here is some important information, while many entrepreneurs prefer to be based in Southeast Asia. The marketplace is highly competitive, as you already know and if you do your networking and invest in some SEO, there’s every reason to expect...
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8 Mistakes That Kill Startups

8 Mistakes That Kill Startups
Top 8 Mistakes That Kill #Startups Let us look at some mistakes that kill startups News: About three-quarters of venture-backed startup firms in the U.S. don’t return investors’ capital, according to recent research by Shikhar Ghosh, a senior lecturer at Harvard Business School. This information made me think and I have tried to summarize the main reasons for flawed-startups below in order to caution the young and growing entrepreneurs. 1. An Unscalable Idea Understand that a Technology-driven idea with more mass appeal is what potential investors are looking for. If your business is not easily scalable across a wide market, higher margins cannot be reaped for the kind of money invested. It is always better that your product or service is appealing to all types of clients in the market. 2. #Lack of Competitive Research Don’t bother if the business idea you are about to launch already exists in the market; let yours be unique and new. Think different is what I would suggest. WhatsApp is one great example for unique contribution to the android market, don’t you think so? Make sure you are clearly differentiated from the others (e.g., better product, better value, different target client) and that your plan is SECURE against future market entrants who may try to imitate you after your initial success.  3. #No Focus ‘One thing at a time’ will be the mantra for startups where entrepreneurs have to concentrate on launching a single product at any given time. This will also help in giving clarity to those who work under you. Don’t try to be a jack-of-all-trades, but end up being a master-of-none without a laser-sharp focus to start. 4. Catch Hold of Investors even at an Early Stage: First try to send feelers to whom you think as potential investors through the right channels. Say, you are a builder and trying to launch your first project. How will you make money rolling in to keep your project going? Either you go for bank loans – no bank will offer you big loans without proper recommendation, fund-flow projection  and collaterals or you need to pitch-in this idea to known circles to popularize your product and raise seed money by way of advance. What I’m trying to highlight is that you need to bring in some initial investment which will help to keep the wheels rolling. 5. No Passion or Persistence Your passion should be infectious enough to attract the right kind of investors. Not all are lucky like Matteo Achilli, the 20 year Italian student, who is about to launch a new social networking site in the lines of LinkedIn, called ‘EGOMNIA”. ARVE Error: Mode: lazyload not available (ARVE Pro not active?), switching to normal mode Tech giants like Microsoft and Google have already geared up themselves to support this lad in areas of marketing and cloud computing. We should appreciate Matteo for his passion to create a networking site where job seeking professionals will be ranked and then directly connected to the employers. His persistence has paid off and he has been termed as “Italy’s Mark Zuckerberg”. 6. Failing to Form a Well-Oiled Team: Let your team be like-minded persons with same objectives and working for a cause. Investors never will want to back-up a single individual, but a well-oiled team. Be courageous to put forward your ideas in an authentic manner. After all it is your own brain-child. If you don’t believe in it, who is going to? 7. Not Going for the Right Mentors: Be surrounded by people who have already tested and tasted success in the market. Experience is like a seasoned teacher having solutions for all your questions....
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